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Prepare the december adjusting journal entry

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Reference no: EM132879200

Problem - Valuing trading securities at fair value - On January 1, 2012, Valuation Allowance for Trading Investments had a zero balance. On December 31, 2012, the cost of the trading securities portfolio was $105,800 and the fair value was $101,600. Prepare the December 31, 2012, adjusting journal entry to record the unrealized gain or loss on trading investments.

Reference no: EM132879200

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